The TikTok author’s $ 60 billion fortune makes him one of the most rich people in the world

Last year Byte Dance Ltd was the most valuable company in the world. He was pushed from everywhere. The Trump administration wants to transfer the assets of the Chinese company that owns TikTok, the ubiquitous video-sharing platform. 

Beijing has blocked tech businesses and India has blacklisted some of its social media programs. Despite all the obstacles, ByteDance continues to grow. Its founder, 38-year-old Zhang Yimin, is today one of the richest people in the world and is currently in danger in China. 

The company’s shares on the private market are valued at more than $ 250 billion. I’m used to the deals they talk about. Zhang, who owns a quarter of ByteDance at this level, is Pent, Pony Ma, mineral water king Zhong Shanshan, and Tencent. With family members Walton and Koch from Holdings Ltd, his fortune could be over $ 60 billion. .. According to the American Bloomberg Billionaires Index. 

ByteDance, known for its short video app and news aggregator Toutiao, doubled its revenue last year after expanding its main advertising business into areas such as e-commerce and online gaming. He is currently considering options for several companies to go public. “He is determined to build a sustainable global company,” said Marui, partner at venture capital firm Synaptic Ventures.

 Upgraded Ranking: 

ByteDance recently hit a financial value of $ 180 billion, everyone with an understanding of the matter said. According to CB Insights, this figure was over $ 20 billion about three years ago. But in the private market, people recently said that some investors are asking to sell $ 350 billion worth of shares. 

It is worth $ 400 billion to individual investors, according to a South China Morning Post report. This meant even more luck for Zhang. A ByteDance spokesperson did not respond to requests for comment. It is difficult to get rich in China today because the government wants to control the founders of the company and the most powerful millionaires in China. 

Maun asked. Following antitrust investigations, regulators fined Alibaba $ 2.8 billion and the central bank ordered an analysis of the fintech empire with Antech as a bank. The battlefield for social media dominance and store openings is a sensitive area under close scrutiny by the government. 

Kirk Hoody, the founder of Redex Holdings, said in his investment review: “There are no more stupid games in the US that prohibit or forcibly sell cards and assets.” “But pressure on technology stocks, especially in China, could be sold for $ 250 billion,” he added, citing the cost of a private ByteDance deal. 

Zhang was born in Longyang, southern China, and was the only son of an officer who studied programming at Nankai University in Tianjin and repaired a classmate’s computer on a school online forum to get the following information: According to an interview with Chinese media, I came to Microsoft. 

For a time after graduation, he described his work as tedious and often worked “half a day reading half a book.” He has founded several companies, including a real estate portal.

 Innovative Concept:

According to an article in the Wall Street Journal in October, one of Zhang’s former supporters, Susquehanna, is ByteDance’s biggest supporter and owns 15% of the shares. According to a 2016 blog post by Joan Wang, which instructed news app ByteDance Toutiao to invest in Susquehanna’s venture capital division in China, the first bet was Zhang’s napkin concept. 

It opened earlier this year. TikTok is being researched in the US and India, and Zhang continues to focus on the fast-growing and fast-growing Chinese company ByteDance, from games to education to e-commerce. As a result, sales last year rose to about $ 35 billion and operating income to $ 7 billion. 

Investors are considering partnering with several ByteDance companies after Chinese rival Kuaishou Technology raised $ 5.4 billion, the largest network on the Internet, in February. Cited by Uber Technologies Inc. The current market value of the company is approaching $ 140 billion. 

Last month ByteDance was Xiaomi Corp. Former CEO Chew Shou Zi has been appointed CFO to fill the vacancies required for final market execution. For Zhang, this is more than an instant payment. The charming founders were known for their “deferred remuneration” management philosophy as they focused on long-term growth, which was confirmed to their employees on the 9th anniversary of the company’s founding. 

“Sounds easy, but it’s important,” he said. “Eat when you are hungry and sleep when you are tired. Use the simplest words. “

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